Justin Sun and Sam Bankman-Fried Deny Involvement in Huobi Global Sale

Justin Sun and Sam Bankman-Fried Deny Acquisition Rumors

Justin Sun, founder of TRON, and Sam Bankman-Fried, founder of FTX, have denied rumors of their involvement in purchasing a majority stake in Huobi Global. Earlier reports suggested they were potential buyers in Huobi's $3 billion stake sale, but both have refuted these claims.

Justin Sun Joins Huobi Global Advisory Board

Justin Sun expressed excitement about his new role as a member of Huobi Global's Advisory Board. He emphasized his commitment to supporting Huobi's growth and global expansion efforts. Sun shared the news on Twitter, highlighting his collaboration with industry leaders to guide the organization.

Sam Bankman-Fried Clarifies Non-Involvement

Sam Bankman-Fried also responded to speculation about his involvement in the acquisition. He stated that he was "still not involved" in the deal, putting rumors to rest.

Huobi Founder Sells Majority Stake

Huobi Global's founder, Leon Li Lin, recently announced the sale of his majority stake to About Capital Management. Lin confirmed he is no longer a shareholder and has no authority over Huobi Global.

Market Reaction to the Sale

Following the announcement, Huobi's native token, HT, saw a significant price surge, rising nearly 25% within hours. The token's value increased from BRL 21.47 to a peak of BRL 26.74, reflecting market optimism about the exchange's future.

The developments highlight the dynamic nature of the cryptocurrency industry, with key players shaping the future of major exchanges like Huobi Global.